Osram sells site of former headquarters

2014/10/06

Osram, which was once headquartered on Hellabrunner Straße in southern Munich, has now sold its property there to ABG Group, which has hubs in Munich, Cologne and Hamburg. The two parties have agreed to maintain confidentiality on the purchase price of the real estate. "The sale of the property on Hellabrunner Straße paves the way for the future-oriented development," explains Daniela Albrecht, Osram’s Head of Real Estate. Starting in 2012, the company moved its headquarters to northern Munich. "So Osram is still very much a Munich company," emphasizes Albrecht.

Osram is selling the property of its former headquarters, located at Hellabrunner Straße 1 in southern Munich. The purchase price of the site, which covers some 32,000 square meters, was the subject of a confidentiality agreement between Osram and the buyer – ABG Group, a real estate development company that is active throughout Germany. For more than four decades, ABG Group has focused on the development of office, residential and commercial space. The ABG Group will continue the development plan procedure that is currently underway for the property, and, in the next step, prepare for the urban development competition. "This large site is very close to the Isar River. We're planning the construction here of apartments for every income group," says Dr. Rainer Sticken, Managing Partner of the ABG Group. "In the process, we're hoping for support from the City of Munich for a rapid planning procedure."

Starting in 2012, Osram moved to new locations in Garching and Parkstadt Schwabing. The facilities on Hellabrunner Straße were outdated and individual buildings had been built for research purposes, making them structurally unsuitable for use as office space. The new Osram sites are oriented toward modern workspace standards and fulfill all the requirements of sustainable building management.

BNP Paribas Real Estate supported the sale for Osram.

ABOUT OSRAM

OSRAM of Munich, Germany is one of the two leading light manufacturers in the world. The company's portfolio covers the entire value chain from components – including lamps, electronic control gear and opto semiconductors such as light-emitting diodes (LED) – as well as luminaires, light management systems and lighting solutions. OSRAM has more than 35,000 employees worldwide and generated revenue of almost €5.3 billion in fiscal 2013 (ended September 30). The company's business activities have been focusing on light – and hence on quality of life – for over 100 years. The company was listed on the stock exchanges in Frankfurt and Munich on July 8, 2013 (ISIN: DE000LED4000; WKN: LED 400; Trading symbol: OSR). Additional information can be found at www.osram-group.com